• Bitcoin prices have risen in the past few weeks.

• The Fed meeting sounded stronger than expected.

• It forms a rising wedge.

BTCOn Monday, with investors' anxiety about monetary policy and data encryption, prices fell again. The buying and selling price of BTC currency is US $16750, which is also the level in the past few months. This price is a few places lower than the peak of US $16867 last week.

Bitcoin Price Forecast Analysis: No Santa Claus Party?

BTC/USD prices have been rising in the past few weeks. After last week's comeback, with investors thinking about the Fed's latest interest rate decision, the composition will be adjusted.

In last week's decision, the Federal Reserve meeting decided to raise interest rates by 0.50% in this year's final decision. At the previous four monetary policy meetings, it had raised interest rates by 75 percentage points. In addition, as they wrote, financial institutions determined to continue to implement the current policy of quantitative tighteningHere.

The main trend is that the Federal Reserve will also raise interest rates again in many months. This statement helped the sales market influence the view on monetary policy. Before the conference, industry insiders predicted that the central bank would sound a little soft because inflation is now beginning to moderate.

After this confirmation, US and global stock markets plummeted, while the yield of government bonds rose to the highest value in a few weeks. The US stock index, which has fallen recently, has recovered strongly in the past few days.

Another reason for the continuous decline in the price of Bitcoin is the growing capital outflow from most digital currency trading platforms. In the past seven years, the capital outflow of Binance, the world's largest trading center, has exceeded $7.5 billion. At the same time, Bitfinex's capital outflow in Crypto stage exceeded 335 million dollars. Com lost more than $76 million.

Therefore, all these behaviors represent that the Santa Claus party did not appear.

Analysis of Bitcoin Price Forecast

BTC/USD Data Chart by TradeView

That way, it's safe NoBuy Bitcoin? In the past few days, BTC prices have been in a busy sector. During this period, it has been below the key pressure level of US $16867. It is also tamped at the 25 and 50 day moving average system.

At the same time, the relative strength index (RSI) constitutes a way of rising against the trend, which is a rising signal. It also forms a rising wedge, which is generally a bullish signal. As a result, there may be a bullish rise in coins. If such a thing happens, it may be reduced to 15000 dollars.